Last week, Mitt Romney declared that if his new, one-page economic policy plan were implemented, the country would add “12 million new jobs by the end of [his] first term.”

Now, usually politicians (Barack Obama included) get hammered for overstating how much the economy will improve under their watch. But by at least some forecasts, Mr. Romney’s promises may actually be a little underambitious, in that his promised job growth is pretty close to what’s already expected.